Sugarmade Inc (SGMD)

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Posted multiple times earlier that Jimmy sold his lmk capital 60 acre Lower Lake spread in which sgmd reportedly inked the LOI $250k downpayment and $20k monthly lease last sept2020..and sold it to ecgi holdings in Jan2021..Jimmy paid about $1.4m and sold to ecgi holdings for $3.5-4m..and keep in mind 5 acres designated for mj grow, but Jimmy at the time still waiting on mj license approval..and still waiting from what I can determine...and oddly, financials indicate the agreement payment already in default..lol, so maybe Jimmy does technically still own if push came to shove..Hard to keep up with the paper activity..

Interested folk can skip the following copy and paste info from financials and read more easily via ecgi Quarterly financials link provided..https://backend.otcmarkets.com/otcapi/company/financial-report/282829/content. ..btw, the following news regarding Mount Fire 29 Corp,is a
subsidiary of Northern California Holdings, Inc...two new shells owned and controlled by Jimmy Chan.

Finally, new shell ECGI Holdings did both the 60 acre Lower Lake gig AND Nugs AVE dispensery deal with Jimmy..Tough to keep up with new shells and (morphing?) financials paper info ..glta


On January 20, 2021, the Company acquired Mount Fire 29 Corp, a
subsidiary of Northern California Holdings, Inc. for a property located in Lower Lake,
CA 95457 within the inclusion zone suitable for cannabis cultivation. The loan of
$804,000 therefore became part of the Company’s liability after the acquisition. The
loan is matured on October 1, 2022 with an interest of 8.5%, payable in 24 installments
of $5,695 each, beginning on November 1, 2020.
(6) On January 20, 2021, the Company acquired Mount Fire 29 Corp, a
subsidiary of Northern California Holdings, Inc. for a property located in Lower Lake,
CA 95457 within the inclusion zone suitable for cannabis cultivation. The loan of
$175,000 was lended from David H Tuttle and Melodye R Tuttle therefore this loan
became part of the Company’s liability after the acquisition. The loan and balloon
payment is matured on December 1, 2020 at 7% interest. LMK Capital LLC paid
$50,000 on behalf of the Company so the $175,000 was reduced to $125,000. This loan
is currently at default as of February 28, 2021.
(7) On January 20, 2021, the Company acquired Mount Fire 29 Corp, a
subsidiary of Northern California Holdings, Inc. for a property located in Lower Lake,
CA 95457 within the inclusion zone suitable for cannabis cultivation. The Company
will pay Northern $250,000 in cash within 10 days; $350,000 in cash within 20 days,
and $2,900,000 in cash within 90 days. As of this filing, the Company is default in
payment for the payments. The balance as of February 28, 2021 was $3,500,000.
Northern California Holdings, Inc. is owned and controlled by Jimmy Chan.
(8) On January 20, 2021, the Company acquired Mount Fire 29 Corp, a
subsidiary of Northern California Holdings, Inc. for a property located in Lower Lake,
CA 95457 within the inclusion zone suitable for cannabis cultivation. LMK Capital
LLC paid $50,000 on behalf of the Company to David H Tuttle and Melodye R Tuttle
for the $175,000 on (6). LMK Capital LLC is owned and controlled by Jimmy Chan.